PLEDGE AND SECURITY AGREEMENTPledge and Security Agreement • September 30th, 2022 • Tile Shop Holdings, Inc. • Retail-home furniture, furnishings & equipment stores • New York
THIS PLEDGE AND SECURITY AGREEMENT (as it may be amended, restated, supplemented or otherwise modified from time to time, this “Security Agreement”) is entered into as of September 30, 2022, by and among THE TILE SHOP, LLC, a Delaware limited liability company (“Tile Shop LLC”), TILE SHOP LENDING, INC., a Delaware corporation (“Tile Shop Lending”), TILE SHOP HOLDINGS, INC., a Delaware corporation (“Holdings”), THE TILE SHOP OF MICHIGAN, LLC, a Michigan limited liability company (“TS Michigan”), and any additional entities which become parties to this Security Agreement by executing a Security Agreement Supplement hereto in substantially the form of Annex I hereto (such additional entities, together with Tile Shop LLC, Tile Shop Lending, Holdings, and TS Michigan, each a “Grantor”, and collectively, the “Grantors”), and JPMorgan Chase Bank, N.A., in its capacity as administrative agent (the “Administrative Agent”) for the lenders party to the Credit Agreement referred to below.
